Companies have decreased their IT spending for the last couple of years, and the slump is expected to continue through 2016, according to Gartner.

Gartner notes that the slight dip this year is mostly due to currency fluctuations - most IT providers are based in the U.S., and foreign currency has weakened compared with 2014. Adjusting for that, though, spending is still relatively flat, up about 1.6% in constant currency terms.

As this chart from Statista shows, Gartner expects a recovery through 2020, with software spending growing 27% and IT services spending growing 19% over the next four years. Other parts of the market will grow more slowly.

Sponsored Stories

Subscribe to our Newsletters

In an interview with ETCIO, Kedar Upadhye, Jt President & Global CFO, Cipla, throws light on some innovative IT projects that Cipla has implemented,as part of its digital transformation strategy, to fuel business growth.

Sudhanshu Pokhriyal, President of Textiles at Raymond, firmly believes that digital transformation is a top-down approach. Taking the lead on the initiative, he has devised an innovative digital strategy that enhances customer experience while helping retailers in their business.